In August, I blogged about a New York Times story on a corruption investigation of City College President Lisa Coico. On Friday, the Times reported that Coico abruptly resigned. Today, the Times has a long piece on the corruption and potential criminality that led to Coico’s resignation (upon threat of firing).
On the one hand, the piece paints a portrait of a college president so fantastically corrupt, it’s almost comical.
Ms. Coico, who had an annual salary of $400,000 at that point [2011], was using the college’s main fund-raising vehicle, the 21st Century Foundation, to pay tens of thousands of dollars for housekeeping, furniture, seasonal fruits and organic maple-glazed nuts, among other items….By August 2011, according to an email between two school officials, the college had begun to itemize more than $155,000 of her spending in three categories — “college,” “personal” and “iffy.”
On the other hand, it’s just one blood-boiling outrage after another, where the criminality flows, like lava, from the mountain of largesse that Coico was legally allowed in the first place.
The Times also questioned whether Ms. Coico had repaid a $20,000 security deposit for a rental home, or kept the money for herself….Ms. Coico had a housing allowance of $5,000 per month when she was hired, which was increased to $7,500 per month in July 2010.
We have adjuncts at CUNY who can’t pay their rent. Mostly because the pay is so low, but sometimes, as occurred at Brooklyn College last month, because CUNY can’t be bothered to get its act together so that people are paid on time. Yet a college president, who’s already earning a $400,000 salary (and remember that was in 2011; God knows what she was raking in upon her resignation) plus a housing allowance of $7500, gets additional help to put down a $20,000 security deposit on a rental home in Westchester? [click to continue…]